1. FCPT acquired three properties for $9.5 million in Georgia. 2. Properties have long-term, triple net leases with 19 years remaining. 3. The acquisition has a cap rate of 6.6% on rent.
The acquisition indicates FCPT's growth strategy, likely enhancing long-term earnings potential. Past acquisitions have positively impacted stock performance.
The acquisition reflects FCPT’s expansion strategy, critical for investor confidence and stock valuation. Market sentiment may shift positively as the company builds more assets.
The long-term leases secure stable cash flows, benefiting FCPT for years ahead. Historical data shows stable REITs enjoy robust performance over time.
MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the acquisition of three Express Oil Change & Tire Engineers properties for $9.5 million. The properties are located in highly trafficked corridors in Georgia and are corporate-operated under long term, triple net leases with approximately 19 years of term remaining. The transaction was priced at a 6.6% cap rate on rent as of the closing date and exclusive of transaction costs.
About FCPT
FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.
Category: Acquisition